USOil Rebounds As Traders Evaluate Omicron Fallout
Oil prices stage a rebound at the start of the week, following Friday’s collapse due to new of a new Covid-19 variant, called Omciron
Senior Financial Editorial Writer
Nikos Tzabouras is a graduate of the Department of International & European Economic Studies at the Athens University of Economics and Business. With extensive experience in market analysis and a strong foundation in international relations, he brings a unique perspective to financial markets. Nikos emphasizes not only technical analysis but also on fundamentals and the growing influence of geopolitics on financial trends.
As a Senior Financial Editorial Writer, he delivers comprehensive and forward-looking insights across a wide range of asset classes, including equities, commodities, and currencies. His work explores how macroeconomic events, political developments, and global policies impact market dynamics, providing readers with a deeper understanding of both short-term movements and long-term trends.
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Oil prices stage a rebound at the start of the week, following Friday’s collapse due to new of a new Covid-19 variant, called Omciron
News of the new Covid-19 variant on Friday harmed the greenback, as they casted doubt over the Fed’s tightening path and allowed the pair to stage a solid recovery, but today it is on the back foot
During this eventful week, we saw high Fed activity, a data dump from the US before the Thanksgiving holiday, quarterly results from high profile companies and intense risk aversion in the last trading day due to new Covid variant
This holiday-shortened week for the US stock markets ended with risk-aversion due to Covid variant warning by the WHO and marked the winding down of the earnings season, with a handful of high profile results
The World Health Organization (WHO) warned of a newly found COVID-19 variant, sparking fresh fears sending stocks of major airline companies lower
Risk-off mood dominates markets today, but the US Dollar fails to benefit, allowing the pair to push higher, reacting from Wednesday’s 2021 lows
Risk aversion was prevalent is the Asia-Pacific session, after WHO warned yesterday about a new COVID-19 variant, with the Japanese Yen emerging as the main beneficiary
Various members of the US central bank have been making hawkish remarks lately, fueling the Dollar’s advance, while yesterday’s minutes form the last policy decision were also on the hawkish side
The pair has entered its fourth losing week and extends its losses today, despite some containment of the US Dollar’s strength
News of agreement for a three-party coalition on Wednesday, provided support to the German Index, but today’s economic data are not helpful
The Chinese firm reported its latest quarterly earnings on Tuesday, after the Hong Kong stock market closed, with the results disappointing investors and pushing the stock lower today
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